Selling Tips: Offers Some Advice on Negotiating

May 22, 2013 - Updated: May 22, 2013

Selling your home can be both an exciting and tough time. It is exciting in the sense that homeowners are experiencing change and moving on and it is tough in the sense that it can be a “hurry up and wait” process.

When selling your home, homeowners often feel the pressure to quickly get their home into selling shape. However, once it is ready for viewings, it can be difficult sitting and waiting for an offer to come in. In some cases, you may not get an offer right away. As time goes by without an offer, homeowners often get discouraged and anxious to sell.

Your home obviously means a lot to you, but you have already made the decision to move on, so begin to think of your home as "the house" or "the condo," instead of "my home." This will help you think of selling as more like a business transaction.

While it may be difficult because of your attachment to your home, keep these things in mind during the selling process:

Be patient and the right offer will come along.

Know the true value of your home (not what you think it is worth).

Have a positive attitude.

Do not let your emotions get in the way such as pride, anger, or greed. They will only hinder the process and affect your ability to negotiate.

Take all reasonable offers seriously. Remember, you can always counter offer.

Don’t sweat the small stuff. Don’t let a deal walk over a relatively small amount of money.

How do I respond to a low-ball offer?

Obviously buyers want to get the best deal possible when shopping for a new home. Therefore, as a homeowner, you can expect to get a number of low ball offers for your home. Don’t take them personally; they are simply just part of the negotiation process.

When this happens, talk to your real estate agent about your options. Often they will advise you to tell the interested party that a negotiation is possible once a more reasonable offer is made on your home.

Sometimes it may not even be worth your time, as the buyer may not even be a qualified buyer. So, make sure this information is clear before you get too attached to making a deal.

Remember, you do not have to settle for less if you are realistic about your chances of getting more, as long as your asking price is at a fair market value for your area.